The national government and the forestry company UPM have launched negotiations for installation of a cellulose plant, which will be the country's third and UPM's second in Uruguay.
The company announced in a press conference that talks had begun with authorities on the development of logistics infrastructure for the installation of a new cellulose processing plant in the Río Negro basin. The project involves a private investment of some USD 4 billion plus USD 1 billion in public investment to improve logistics infrastructure, for a total investment of close to 10% of Uruguayan GDP. The infrastructure improvements necessary will involve repair of highways, railways and conditioning of the Montevideo port.
If an agreement is reached, the second phase will include authorizations as well as logistics and infrastructure development that will provide the conditions for installing the industrial complex, which would take from a year and a half to two years. The third stage involves construction of the plant, which would take a period of 30 months.
Source: Office of the President of Uruguay.
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